Michelle a single individual reports 2015 adjusted gross, Ask an Expert

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Michelle, a single individual, reports 2015 adjusted gross income of $280,000 and has the following itemized deductions before applicable limitations

Medical expenses $ 14000

Interest on home acquisition mortgage with a 25000

principal amount of $650,000

Interest on home equity loan with a principal : 6000

amount of $95000

Taxes 7000

Miscellaneous itemized deductions 8800

a. What are Michelle’s itemized deductions for regular tax purposes? $

b. What are Michelle’s itemized deductions for AMT purposes? $

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91964521

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